First Published 1st February 2017

An application by Vigilant Global and New Line Networks to build communications towers to speed up trading between London and Frankfurt has been rejected by Dover District Council.

Describing the proposal by US-based high speed traders to erect
communications masts in rural Kent as high as London's Shard as
"incredibly stupid", Dover District Council rejected applications
by Vigilant Global (owned by Chicago-based DRW Trading) and New
Line Networks (jointly owned by KCG Holdings of New York and Jump
Trading of Chicago), to erect 300m towers close to each other at
Sandwich near the English Channel.

Residents and council repesentatives were unanimous in their
rejection, arguing they could see no benefit to the local
community. They had serious concerns regarding the effect on
local infrastructure - beauty spots, traffic, historic monuments
etc., and also felt there were possible health issues.

A report by Bloomberg earlier in the year said Vigilant
had offered to fund a new guidebook for Sandwich, give money to a
local school for a new sound system, and 100,000 GBP for
Richborough Roman Fort. Residents remain
unimpressed: The phrase "money-market traders filling their
greedy boots" has been heard.

The companies can appeal to the UK government. A comment is
expected on Friday.